What is life insurance?
Life insurance is a group of products for different needs. It offers financial protection for you and the people you love against unexpected risks such as loss of life, accident, illness or disability.
If the insured person dies, life insurance can pay a benefit to those left behind. Depending on the plan, additional cover such as critical illness, disability following an accident or unemployment can also help protect living standards. It can offer financial protection against both shorter-term and longer-term risks. A flexible plan structure allows you to select cover suited to your needs, and within certain limits you may also benefit from tax advantages.
Why life insurance?
In many families, regular expenses depend on one person’s income. If that income stops or falls unexpectedly, it can become harder for those left behind to keep the same budget. Life insurance aims to provide support against that kind of financial risk, within the cover and conditions set out in the policy.
Scope of life insurance cover
- Death benefit
- Disability benefit following an accident or illness
- Accidental death benefit
- Critical illness benefit
- Daily hospital expense benefit
- Unemployment benefit
- Certain operations or health risks defined in the policy
- Assistance cover